§ 03 — Portfolio index

Parallel Quarterly ·

No. 15

15

Manufacturing

Seed

2022

Active

Founded in

Cleveland, Ohio

Founders

Walt Pruitt

Sector

Manufacturing

First check

Seed

Year

2022

Status

Active

A steel service center moves coils and plates with overhead cranes. A crane is a long-lived, heavy machine, and when one stops the building stops. Hoistline fits each crane with a small unit that records loads, runtime, brake wear and the number of times an operator has been surprised.

Walt Pruitt maintained cranes for twenty-two years and holds a lifting-equipment certification. He wanted to replace the clipboard that hangs on the crane’s ladder. The unit logs every lift, flags a hoist that has run over its rating, and tells a planner which brake will need replacing next month.

About 240 cranes at 31 service centers are on the system. A pilot costs the customer a few thousand dollars, and none has died quietly. The company has hired its first two field technicians, both former crane mechanics, and has started on a version for gantry cranes in ports.

Why we invested

Walt charged for the pilot from the first call, on the grounds that a free pilot tells the buyer it is worth nothing. We do not usually have to teach this lesson. He taught us a version of it.

Colophon

This issue is set in Newsreader, a typeface for long reading by Production Type, with Instrument Sans for the small print. Printed in the browser on 100% post-consumer pixels. No trees were harmed; several laptop fans were mildly inconvenienced.

Paper: #F4F1EA. Ink: #141414. One bottle of oxblood, used sparingly and signed out by both partners.

Pittsburgh

2100 Smallman Street, 3rd floor
Pittsburgh, PA 15222

Rotterdam

Keilestraat 14-B
3029 BP Rotterdam

Partners

Hana Voss, Pittsburgh
Teo Okafor, Rotterdam

Fine print

Nothing on this page is an offer to sell securities. It is, however, a standing offer to read your deck.

© 2026 Parallel Management, LLC

Vol. III · Issue No. 3 · Next issue: December

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